Buy these ASX dividend shares for their 4% to 6.6% dividend yields

Analysts are tipping big yields from these buy-rated stocks.

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There are plenty of ASX dividend shares to choose from on the Australian share market, but which ones could be buys right now?

Three shares that were recently picked out as buys by analysts are listed below. Here's what they are saying about them:

APA Group (ASX: APA)

APA Group could be an ASX dividend share to buy according to analysts at Macquarie. It is an energy infrastructure business that owns, manages, and operates a diverse portfolio of gas, electricity, solar and wind assets.

The broker believes that the company is well-positioned to continue its long run of dividend increases, which stretches back approximately two decades.

Macquarie is forecasting dividends per share of 56 cents in FY 2024 and then 57.5 cents in FY 2025. Based on the current APA Group share price of $8.46, this equates to 6.6% and 6.8% dividend yields, respectively.

The broker has an outperform rating and a $9.40 price target on the company's shares.


Another ASX dividend share that analysts are tipping as a buy is IPH. It is a leading intellectual property solutions firm.

The team at Goldman Sachs is bullish on the company's outlook thanks to its defensive earnings and organic growth. The broker expects this to support the payment of fully franked dividends of 34 cents per share in FY 2024 and then 37 cents per share in FY 2025. Based on the current IPH share price of $6.26, this represents yields of 5.4% and 5.9%, respectively.

Goldman currently has a buy rating and $8.70 price target on IPH's shares.

Woodside Energy Group Ltd (ASX: WDS)

A final ASX dividend share that analysts think investors should buy is Woodside Energy. It is one of the world's largest energy companies with a portfolio of high-quality operations and projects.

The team at Morgans is feeling very positive about Woodside. Its analysts also believe that recent share price weakness has made now "a good time to add to positions."

Another positive is that the broker is expecting some attractive dividend yields from its shares in the near term. It is forecasting the company to pay a fully franked dividends of $1.36 per share in FY 2024 and then $1.12 per share in FY 2025. Based on the current Woodside share price of $28.57, this equates to 4.8% and 3.9% dividend yields, respectively, for investors.

Morgans has an add rating and a $34.20 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group and Macquarie Group. The Motley Fool Australia has recommended IPH. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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